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Advantage increases turnover by 185%

Advantage Mortgage Services says turnover has increased by 185% with over £60m of sub-prime and niche mortgages now processed every month.

The North-West based mortgage packager and branded lender, says the increase follows a number of packaging alliances over the last 12 months, with applications now up by 180% in its last financial year.

In addition, the company has had to double its office space for the second time in 12 months and now employs more than 120 staff. It says it is on target to process more than £1bn in 2004.

Keith Dearling, co-founder and director, says: “Advantage decided a long time ago to focus on quality and delivering the best possible service to all our customers.

“It is a tribute to the company&#39s staff that it has managed to maintain service levels through this period of rapid growth.”


Authorisation benefits for GISC members

Members in good standing of the General Insurance Standards Council will have a smoother journey through the authorisation process, the FSA announced yesterday. Sarah Wilson, director of the high street firms division, has confirmed that applications from GISC members in good standing will receive “a level of scrutiny which reflects the standards set by GISC”. […]

CML unsurprised by interest rate rise

The Council of Mortgage Lenders is unsurprised by yesterday&#39s decision by the Bank of England&#39s Monetary Policy Committee to raise interest rates. CML director-general Michael Coogan says: “This rate rise reverses the rate cut in July, which was made on the basis of GDP estimates which have since been revised upwards. But it is far […]

Complete Network to offer free workshops at Mortgage Expo

Complete Mortgage and Loan Services is set to kick off its Complete Network by offering brokers free mini-workshops on compliance at its stand at Mortgage Expo 2003 next week. The Complete Network is offering a proposition for introducers, appointed representatives and directly authorised firms, promising that none of its network colleagues will be tied in […]

Just 6% of FTBs understand mortgages, says MCCB

Only 6% of first-time buyers have a good understanding of mortgages, research from the Mortgage Code Compliance Board has revealed. With just a year before the FSA takes over the regulation of mortgages, the MCCB says the research highlights the importance of high quality mortgage advice to consumers. Conducted from a sample of FTBs, it […]


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